Showing posts with label business ethics. Show all posts
Showing posts with label business ethics. Show all posts

Tuesday, November 21, 2006

COSTCO--The Great Alternative

If you haven't heard of Costco maybe you should. Besides keeping costs down and competitive with Wal-Mart and Sam's Club Price Club pledges they will not raise ANY item above a 15% mark up. Costco also treats it's employees well...A cashier at the store after four years makes over 4ok a year and employees with a 26 hour or more work week can sign up for insurance benefits.

Wall Street criticizes Costco Management for granting generous employee benefits and Costco's refusal to never charge a consumer more than a 15% mark up on any item. (15% is the maximum mark up Costco will charge and items are often priced less than the 15%) Costco's largest competeitor--the Wal-Mart/Sam's Club Gang--are famous for pricing some items very low and then making a profit with extravagant mark ups on other items in the store. Costco holds firm to their business ethics. They are rewarded with very loyal customers. They don't spend billions on advertising and these savings are passed onto their customers. Amazingly, Costco stock is doing well while Wal-Mart is plummetting.

I don't like to shop. But I always have a good experience to shopping at Costco. I am willing to drive 30 minutes to shop there. The employees are great and give great customer service unlike Wal-Mart and Sam's Club.

Goes to show...if you treat your employees with respect and dignity they will do the same with the customers.

So if you must shop why not shop somewhere where your money supports other folks in your community instead of some rich heir/heiress living halfway across the country?

You may learn to enjoy shopping when you "like" the folks you are handing your money over too.

Vote with your dollar and support good business ethics.